Can a Guardianship Stop My Senior Loved One From Getting Scammed?
As your senior ventures into their twilight years, you may become concerned about the threat of scams. It is no secret that when a senior begins to struggle with dementia or cognitive decline, they may be more vulnerable to various scam artists. Even if their mind remains sharp, their lack of knowledge about technology could make them easy targets for scam artists. Could a guardianship help secure your loved one’s wealth? Can an estate planning attorney in Tampa help with this?
How Does a Guardianship Protect Against Scams?
A guardianship protects against scams by transferring financial control away from the ward. With a guardianship in place, the ward does not have the authority to simply hand over their wealth to a scammer. Instead, they must formally request that their guardian release these funds.
Assuming the guardian is a responsible adult who understands how to spot various scams, they would refuse this request. As a result, the senior’s wealth would remain secure. The checks and balances provided by the guardian could be vital as a senior faces dementia or cognitive decline.
A Guardianship Is Always the Last Resort
You should know that in the eyes of Florida courts, a guardianship is the last resort. Courts do not approve guardianships without carefully considering the circumstances at play, especially the rights of the ward. You can only obtain a guardianship if you can establish that the ward is incapacitated.
In other words, you’ll need to prove that your senior can no longer make decisions or understand the consequences of their decisions. This could be particularly likely if your senior is struggling with dementia.
Potential Alternatives to Guardianship
You may not have the legal grounds to pursue a guardianship, and your senior loved one might not be fully incapacitated. If this is the case, you can consider various alternatives to guardianship. One option is Supported Decision-Making (SDM). Your senior can ask for help when making decisions, and this might include financial matters. Although the final decision is always in the hands of the senior, an SDM agreement may require them to communicate with you and other individuals before making financial choices.
You might also choose to help your senior establish a trust. When assets move into a trust, they fall under the oversight of a trustee. As a result, the trustee must approve any transfers or distributions. If a senior wants to use their trust assets to pay a scammer, they must get permission from the trustee first. A responsible trustee may spot the threat and refuse to transfer the funds.
Can a Tampa Estate Planning Lawyer Help Me Obtain a Guardianship?
An experienced Tampa estate planning lawyer may be able to help you become the legal guardian of your senior loved one. This could prevent your senior from giving away their hard-earned wealth to scammers, who have grown increasingly numerous in Florida. However, this is not the only option for concerned family members – and various alternative strategies could be viable. To discuss your options in more detail, contact Knudsen Law today.
Sources:
floridabar.org/public/consumer/pamphlet030/
flcourts.gov/Resources-Services/Office-of-Family-Courts/Family-Court-in-Florida/Guardianship
